Zacks: Brokerages Expect Heritage Insurance Holdings, Inc. (NYSE:HRTG) Will Post Quarterly Sales of $149.76 Million

Equities research analysts expect Heritage Insurance Holdings, Inc. (NYSE:HRTG) to announce sales of $149.76 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Heritage Insurance’s earnings, with estimates ranging from $141.73 million to $157.78 million. Heritage Insurance reported sales of $136.01 million during the same quarter last year, which indicates a positive year over year growth rate of 10.1%. The firm is expected to report its next quarterly earnings results on Monday, August 2nd.

According to Zacks, analysts expect that Heritage Insurance will report full-year sales of $610.54 million for the current financial year, with estimates ranging from $603.41 million to $617.66 million. For the next year, analysts expect that the business will post sales of $657.03 million, with estimates ranging from $646.14 million to $667.92 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Heritage Insurance.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings results on Wednesday, May 5th. The insurance provider reported ($0.19) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.42). The firm had revenue of $147.24 million for the quarter, compared to analyst estimates of $145.08 million. Heritage Insurance had a negative net margin of 0.57% and a negative return on equity of 0.78%.

Shares of Heritage Insurance stock traded down $0.35 during trading hours on Friday, reaching $7.79. The company’s stock had a trading volume of 3,033 shares, compared to its average volume of 135,013. Heritage Insurance has a one year low of $7.86 and a one year high of $14.05. The business’s 50 day moving average price is $8.49. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.71 and a current ratio of 0.71.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 6th. Investors of record on Tuesday, June 15th were paid a dividend of $0.06 per share. The ex-dividend date was Monday, June 14th. This represents a $0.24 annualized dividend and a yield of 3.08%. Heritage Insurance’s dividend payout ratio (DPR) is 72.73%.

Several large investors have recently bought and sold shares of the company. Group One Trading L.P. bought a new stake in shares of Heritage Insurance in the 1st quarter worth approximately $28,000. Quantbot Technologies LP bought a new stake in shares of Heritage Insurance in the 1st quarter worth $41,000. UBS Group AG raised its position in Heritage Insurance by 95.6% in the first quarter. UBS Group AG now owns 5,914 shares of the insurance provider’s stock worth $66,000 after acquiring an additional 2,891 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of Heritage Insurance during the 1st quarter valued at about $123,000. Finally, Jane Street Group LLC bought a new stake in shares of Heritage Insurance in the 4th quarter worth approximately $126,000. 69.68% of the stock is owned by institutional investors.

Heritage Insurance Company Profile

Heritage Insurance Holdings, Inc, through its subsidiaries, provides personal and commercial residential insurance products. The company offers personal residential property insurance for single-family homeowners and condominium owners, and rental property insurance in Alabama, Alabama, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Maryland, Massachusetts, Mississippi, New Jersey, New York, North Carolina, Rhode Island, South Carolina, and Virginia; and commercial residential insurance in Florida, New Jersey, and New York, as well as residential wind-only property and multi-peril property insurance.

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Earnings History and Estimates for Heritage Insurance (NYSE:HRTG)

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